EM Asia FX was the main mover today, led by a surprise 85pip fall in the USDCNY fix to 6.1623, its lowest level in over two weeks. USDINR has also gapped lower on the open from 59.33 to a low of 59.18. USDKRW traded as low as 1018.82 before what we believe to be intervention pushed it back above 1020. The dollar has been offered in G10 FX, with EURUSD slighly higher at 1.3659, AUDUSD up to 0.933, and USDJPY down to 102.34.
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Credit Suisse